Hidesign is all geared up to enter into a joint venture with Italy’s Braccialini. As part of the proposed JV, Hidesign will also set up a new production line at one of its manufacturing units to make Braccialini bags and other leather items.
“Talks are at an advanced stage to form a joint venture with Braccialini. There are some legal issues pending post which we will launch the brand in India,” Hidesign President Dilip Kapur told PTI.
The company currently has four manufacturing sites located at Baddi in Himachal Pradesh and down South. Founded in 1954, brand Braccialini is present in 40 countries with around 43 mono brand stores.
Kapur further said the company is open to new business partnerships and joint ventures. “We also plan to open exclusive Alberto Ciaschini stores,” Kapur also said.
Hidesign already has a joint venture with Kishore Biyani -led Future Group to make bags and accessories under Holii brand.
In India, it currently operates 63 company-owned exclusive retail stores and Hidesign products are also sold at about 65 shop-in-shops at multi-brand retail stores.
“In the next 18 months we have a plan to have a total of 100 exclusive stores. One store costs around Rs. 40-50 lakh,” he added in conclusion.